Entertainment analytics company Luminate released its 2024 Year-End Music Report, a global analysis of fan behavior and consumption metrics across all types of listening. (HERE)
“These findings are meant to be helpful for business planning across not just the music industry’s needs but for all industries that are concerned with music — from financial investment to tech product development, from brand partnerships to gaming activations, and beyond.” –Luminate
The headline year-end metric measures the growth of on-demand streaming audio in two ways: Globally, and (interestingly) with the U.S. metrics removed. As illustrated below, removing the U.S. streaming growth number for 2024 increases the percentage growth of global streaming.
The U.S. streaming metrics are broken out separately, showing digital and non-digital products, below. Album sales continue to drop on a percentage basis, unsurprisingly (physical and digital albums) while on-demand streaming shows the only upward movement among the types of album consumption.
Luminate digs into U.S. on-demand streaming with two more interesting charts. First, on-demand streams by year (measuring releases) and on-demand streaming by decade by percentage; both below.
Finally, in this first section ofLuminate’s report, we see a startling dominance of independent distribution compared to “Major Distribution.” As seen below, indie distribution dominated majors nearly to the point of elimination:
We have summarized the first of eight sections in Luminates 90-page release deck. Continued coverage to come in RAIN.